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the executive shuffling comes after warren buffett invested billions in b. of a. and during efforts to settle lawsuits over bad mortgages. righting the ship. it's a task bank of america c.e.o. brian moynihan was tapped to do as 2009 came to a close. at that time, the bank was taking heat for its handling of the financial crisis and its acquisitions of one-time mortgage giant countrywide financial and legendary investment banking house merrill lynch. the countrywide buy-out continues to haunt b. of a. it was sued last week by a federal housing regulator over losses on $32 billion in securities backed by soured mortgages. the majority of those mortgages came from countrywide. moynihan's latest management shuffle and restructuring effort is dubbed "new b.a.c." gone are star wealth manager sallie krawcheck from the merrill division, also out, head of consumer banking and small business banking joe price. independent banking analyst ken thomas says one risk of the changes is they may create a new crisis of confidence in management. >> i'm afraid there could be a potent
the executive shuffling comes after warren buffett invested billions in b. of a. and during efforts to settle lawsuits over bad mortgages. righting the ship. it's a task bank of america c.e.o. brian moynihan was tapped to do as 2009 came to a close. at that time, the bank was taking heat for its handling of the financial crisis and its acquisitions of one-time mortgage giant countrywide financial and legendary investment banking house merrill lynch. the countrywide buy-out continues to haunt b....
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Sep 13, 2011
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diane eastabrook, "nightly business report," chicago. >> suzanne: it looks like warren buffett has a new golden child. the berkshire hathaway c.e.o. today hired little-known hedge- fund manager ted wescheler. wescheler will work with todd combs managing part of berkshire's massive investment portfolio, and the two will run those investments when buffett retires. the company said, with both men on board, "berkshire is well- positioned for successor investment management at the time mr. buffett is no longer c.e.o." here's the most interesting part of the story: wescheler paid to have lunch with buffet after winning the billionaire's annual charity luncheon two years in a row. tom, clearly he impressed buffett with more than just his table manners. >> obviously with that investment in that auction lunch lots of return on that investment for that investment manager, no doubt about it, suzanne. you mentioned the late day comeback on the markets with nick. let's get rolling with tonight's market focus. the day began with big european worries washing ashore again here in the states, but by
diane eastabrook, "nightly business report," chicago. >> suzanne: it looks like warren buffett has a new golden child. the berkshire hathaway c.e.o. today hired little-known hedge- fund manager ted wescheler. wescheler will work with todd combs managing part of berkshire's massive investment portfolio, and the two will run those investments when buffett retires. the company said, with both men on board, "berkshire is well- positioned for successor investment management at...
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Sep 27, 2011
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. >> susie: a big buy today for billionaire warren buffett. his berkshire hathaway launched a rare stock buyback. berkshire's board has authorized the company to repurchase an indefinite amount of stock and it is willing to pay up to 10% more than book value for the shares. as of june 30, berkshire's book value was $98,716 per class "a" share. so, the company could pay as much as $108,000 a share. the buyback comes just seven months after buffett told shareholders, "not a dime of cash has left berkshire for dividends or share repurchases during the past 40 years." berkshire has over $40 billion in cash on hand, even after last month's $5 billion investment in bank of america. but the company says it will halt any buybacks if its cash pile drops below $20 billion. berksihre hathaway "a" shares rose over $8,100 a share today to close at $108,449. motley fool senior analyst joe mayger owns berkshire stock and says at this price, the company offers investors a bargain. >> i think it's easy to read into this that buffett thinks that stocks at large
. >> susie: a big buy today for billionaire warren buffett. his berkshire hathaway launched a rare stock buyback. berkshire's board has authorized the company to repurchase an indefinite amount of stock and it is willing to pay up to 10% more than book value for the shares. as of june 30, berkshire's book value was $98,716 per class "a" share. so, the company could pay as much as $108,000 a share. the buyback comes just seven months after buffett told shareholders, "not a...
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Sep 1, 2011
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if warren buffett is feeling guilty that he isn't paying enough tax, warren buffett can go on a website and fill out his credit card which will accept any number he puts in there and pay a billion dollars to pay down the deficit if he wants to contribute more to the american government. the idea because warren buffett wants to pay more taxes that we are now going to create a new tax structure for people like warren buffett, again, he isn't going to pay those taxes if we raise the tax on income. we would only do it if we raise tax on capital gains and if we do that, we'll hurt more people than warren buffett and hurt this economy. >> if i'm watching this as ordinary joe on the street, i would say why isn't warren buffett paying income tax and what are you going to do about it to make sure the super rich like him do pay income tax? >> yeah. that's a great point, piers, and a really great question. most americans know the answer to that question. if you're rich enough, you can structure the way you receive income in the most tax preferential way. he says i'll pay more income taxes, then --
if warren buffett is feeling guilty that he isn't paying enough tax, warren buffett can go on a website and fill out his credit card which will accept any number he puts in there and pay a billion dollars to pay down the deficit if he wants to contribute more to the american government. the idea because warren buffett wants to pay more taxes that we are now going to create a new tax structure for people like warren buffett, again, he isn't going to pay those taxes if we raise the tax on income....
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Sep 17, 2011
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>> i don't really have a beef with warren buffett. if he thinks that he's paying unfairly low taxes, largely because he takes advantage of capital gains, and then puts his money into foundation so he he doesn't pay taxes on the capital gains and gets a he deduction on the money that he
>> i don't really have a beef with warren buffett. if he thinks that he's paying unfairly low taxes, largely because he takes advantage of capital gains, and then puts his money into foundation so he he doesn't pay taxes on the capital gains and gets a he deduction on the money that he
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>> i don't really have a beef with warren buffett. if he thinks that he's paying unfairly low taxes, largely because he takes advantage of
>> i don't really have a beef with warren buffett. if he thinks that he's paying unfairly low taxes, largely because he takes advantage of
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(laughter) >> jon: is warren buffett a socialist? you have no [bleep] clue what socialist is, do you. hey, that george clooney always banging different broads what a year. (laughter) -- what a queer. (laughter) >> jon: so closing a few corporate tax loopholes and returning the top marginal tax rate to the 90s economic boom time levels is class warfare. and if there's one thing the rich have learned, it's that class warfare is hell. >> he invoked the corporate jet class. >> so that's a whole new category of people to demonize, right. >> soak the rich, it's their fault. >> barack obama's tax on these evil, disgusting corporate jet owners. >> demonizing the rich as evil, as lazy, as inheriters of their wealth. >> he's saying fat cats. >> it's disappointing. it's class warfare and the kind of language you would expect from a leader of a third-world country, not the president of the united states. >> jon: true, because united states of america is not a third-world country. by any measure. except perhaps income in equality where we rank--
(laughter) >> jon: is warren buffett a socialist? you have no [bleep] clue what socialist is, do you. hey, that george clooney always banging different broads what a year. (laughter) -- what a queer. (laughter) >> jon: so closing a few corporate tax loopholes and returning the top marginal tax rate to the 90s economic boom time levels is class warfare. and if there's one thing the rich have learned, it's that class warfare is hell. >> he invoked the corporate jet class....
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late today, general electric is going to pay back warren buffett. next month, g.e. will buy back $33 billion of preferred stock from buffett. his berkshire hathaway made that investment in the fall of 2008 at the height of the financial crisis. the pay-back comes with a 10% redemption premium. before the news, g.e. was the biggest gainer of the dow industrials, up 2.7%. the stock was at a 52-week low just yesterday. big tech also helped the market move higher. intel was up another 2.4%. it's at its highest price in a month. intel and google announced a partnership, positioning google's smart phone software, android, to work closely with intel semiconductors. cisco gained about 1.5%. c.e.o. john chambers hit an optimistic tone during a meeting with analysts, even as the company released a more conservative growth forecast. instead of double-digit growth which had been the norm, cisco predicts revenues to be up 5% to 7% over the next three years. finally, grain prices took a tumble. despite lower harvest estimates this week, both wheat and corn dropped at least 3%. an
late today, general electric is going to pay back warren buffett. next month, g.e. will buy back $33 billion of preferred stock from buffett. his berkshire hathaway made that investment in the fall of 2008 at the height of the financial crisis. the pay-back comes with a 10% redemption premium. before the news, g.e. was the biggest gainer of the dow industrials, up 2.7%. the stock was at a 52-week low just yesterday. big tech also helped the market move higher. intel was up another 2.4%. it's at...
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Sep 30, 2011
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warren buffett's secretary shouldn't pay a higher tax rate than warren buffett. >> welcome back to "hardball." though president obama made that speech in the rose garden, it was effectively the kickoff to the 2012 campaign. and he made clear that fairness will be a pillar of economic reform in his 2012 message. today in a column entitled why warren buffett is conservative enemy number one, e.j. dionne writes, "maybe only a really, really rich guy can credibly make the case for why the wealthy should be asked to pay more in taxes. you can't accuse a big capitalist of class warfare, and that's why the right wing despises warren buffett and is trying so hard to shut him up." will obama's buffett strategy pay off? that's the question right now. e.j. dione is a columnist for "the washington post." and sam town house is the author of "the death of conservatism." you first, e.j., and thanks for being with us. this thing about buffett, is this going to be big? the fight about the very rich paying maybe 15% in capital gains compared to a lot of people paying 35% in taxes? >> well, thanks for having m
warren buffett's secretary shouldn't pay a higher tax rate than warren buffett. >> welcome back to "hardball." though president obama made that speech in the rose garden, it was effectively the kickoff to the 2012 campaign. and he made clear that fairness will be a pillar of economic reform in his 2012 message. today in a column entitled why warren buffett is conservative enemy number one, e.j. dionne writes, "maybe only a really, really rich guy can credibly make the case...
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Sep 20, 2011
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this includes the so-called "buffett rule," named for warren buffett. the billionaire investor has argued the very rich are not taxed enough, saying people making more than $1 million a year should pay more income taxes than middle-class families. another $1 trillion in savings would come from winding down the wars in afghanistan and iraq. and the president is proposing changes to medicare, medicaid and other programs that would reduce the deficit by $580 billion. president obama says he will veto any plan that comes at the expense of ordinary americans and any plan that relies solely on spending cuts. his proposal now goes to a congressional supercommittee that has been charged with cutting at least $1.5 trillion from the deficit. it has until november 23 to reach a deal. congress must pass it by december 23, otherwise automatic cuts will take effect in january 2013. getting the measure passed in congress will be a tough fight. here's what house speaker john boehner said today about the president's plan: "pitting one group of americans against another
this includes the so-called "buffett rule," named for warren buffett. the billionaire investor has argued the very rich are not taxed enough, saying people making more than $1 million a year should pay more income taxes than middle-class families. another $1 trillion in savings would come from winding down the wars in afghanistan and iraq. and the president is proposing changes to medicare, medicaid and other programs that would reduce the deficit by $580 billion. president obama says...
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we'll ask legendary investor warren buffett for his take on the economy and the markets, and we wrap up wall street's third quarter with standard and poor's strategist sam stovall. he's our friday "market monitor" guest. a japanese auto supplier has agreed to plead guilty and pay a $200 million fine to settle a criminal price-fixing scam that ran partly out of detroit. the settlement was announced today by the u.s. department of justice. three furukawa executives have also agreed to plead guilty and serve prison time in the u.s. ranging from 12 to 18 months. it's the government's first charges as a result of its ongoing international investigation of price fixing in the auto parts industry. >> tom: a group of privacy advocates wants uncle sam to investigate facebook. the american civil liberties union and the electronic privacy information center are among the nine groups asking the federal trade commission to look into how the social networking giant collects data about its users' online activities. the groups are worried recent changes to the site give facebook far greater ability
we'll ask legendary investor warren buffett for his take on the economy and the markets, and we wrap up wall street's third quarter with standard and poor's strategist sam stovall. he's our friday "market monitor" guest. a japanese auto supplier has agreed to plead guilty and pay a $200 million fine to settle a criminal price-fixing scam that ran partly out of detroit. the settlement was announced today by the u.s. department of justice. three furukawa executives have also agreed to...
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i'm warren buffett's secretary and i pay a higher tax rate than my billionaire boss i'm warren buffett's secretary warren buffett's secretary i have three kids make forty thousand dollars a year and i contribute a greater percentage of my income and many billionaires and millionaires most americans want congress to raise taxes on the wealthy but the g.o.p. refuses to do it while i call congress and tell them restrictions on millionaires and billionaires so all americans pay their fair share you get the message to call congress. it's time for a daily poll your chance to tell us what you think here's the day's question will the buffett rule get passed your choices are yes we will tax the oligarchy or no that's class warfare in america as warren buffett said it's his class the rich that's what any i'm going to tell marva dot com let us know what you think the poll will be open until tomorrow morning. crazy alert move over birth errors there are l. walls in iceland according to a new report out of the university of iceland a majority of icelanders believe in elves sixty two percent of respon
i'm warren buffett's secretary and i pay a higher tax rate than my billionaire boss i'm warren buffett's secretary warren buffett's secretary i have three kids make forty thousand dollars a year and i contribute a greater percentage of my income and many billionaires and millionaires most americans want congress to raise taxes on the wealthy but the g.o.p. refuses to do it while i call congress and tell them restrictions on millionaires and billionaires so all americans pay their fair share you...
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care of i to go to mike first in boston warren buffett says he's being coddled by. a congress that is controlled by billionaires is he being coddled and all our other billionaires being coddled and should they pay more in taxes. absolutely you know responsible wealth has been making this point for about ten years now. that the bush tax cuts need to go particularly for upper income folks. more than half of those bush tax cuts went to people in the top five percent like our members and there are people who realize that we want investment in our country that the government investment in education and infrastructure etc is really important for business for a healthy economy and that having more money in their hands doesn't necessarily make a healthy economy. you know so. it's long since time that we should get rid of those those bush tax cuts ok david if i can go to you in washington we just heard that. if you if you have these tax cuts these bush tax cut tax cuts it doesn't necessarily mean they're going rich people are going to grow the economy doesn't necessarily mea
care of i to go to mike first in boston warren buffett says he's being coddled by. a congress that is controlled by billionaires is he being coddled and all our other billionaires being coddled and should they pay more in taxes. absolutely you know responsible wealth has been making this point for about ten years now. that the bush tax cuts need to go particularly for upper income folks. more than half of those bush tax cuts went to people in the top five percent like our members and there are...
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then not just warren buffett henry blodgett was a multimillionaire hold on. in our block text group yeah yeah so a tax grew like henry block who by the way is also a lifetime registered republican even he came out in the news last week and said you know the rich have a debt to this country they can afford to pay it and they should i would also remind david luban that the bush tax cuts well they affected all income filers over the last ten years of the bush tax cuts and income filey between twenty thousand and thirty thousand saved ten dollars a year well income earners above million saved four hundred thousand so it's very clear who benefits from those tax cuts and like henry block said the idea that those tax cuts create jobs and trickle down is baloney. mike you want to jump in there the big issue here is clearly yeah clearly everyone along the spectrum is benefiting but most of the tax cuts have gone to the very wealthy and i would say the biggest issue here is that capital gains are taxed at fifteen percent so the very wealthiest are paying you know tax r
then not just warren buffett henry blodgett was a multimillionaire hold on. in our block text group yeah yeah so a tax grew like henry block who by the way is also a lifetime registered republican even he came out in the news last week and said you know the rich have a debt to this country they can afford to pay it and they should i would also remind david luban that the bush tax cuts well they affected all income filers over the last ten years of the bush tax cuts and income filey between...
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buffett's secretary should pay a higher tax rate than warren buffett and then the president turned his sights on republicans who've already made their opposition to tax increases on the rich well known. it is wrong that in the united states of america a teacher or a nurse or a construction worker who earns fifty thousand dollars should pay higher tax rates than somebody pulling in fifty million dollars anybody who says we can't change the tax code to correct that they want to assign some plates to protect every single tax loophole so long as they live they should be called out they should have to defend that unfairness and if their place to keep that kind of unfairness in place. they should remember the last time i checked the only pledge that really matters the pledge we take up old constitution but those same republicans preempted the president's speech by going on t.v. yesterday and parroting the same old right wing talking point class warfare take it away. we tax investment in job creation more you will get less of it and like i said this is this looks like to me and not a very goo
buffett's secretary should pay a higher tax rate than warren buffett and then the president turned his sights on republicans who've already made their opposition to tax increases on the rich well known. it is wrong that in the united states of america a teacher or a nurse or a construction worker who earns fifty thousand dollars should pay higher tax rates than somebody pulling in fifty million dollars anybody who says we can't change the tax code to correct that they want to assign some plates...
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>> i'm warren buffett's secretary. >> is it her? >> i'm warren buffett's secretary. >> is it him? >> i'm warren buffett's secretary. >> joe johns gets to the bottom of this much talked about and apparently overtaxed assistant. >>> and a self-proclaimed pot head about to get rich off of netflix? dude! the news starts now. >>> welcome back. if it's interesting and happening now, you are about to see it. beginning in california where a millionaire is asking the state's attorney general to review the deaths of not only his girlfriend, but his son as well. detectives say she committed suicide after learning his son wasn't going to survive. the 6-year-old suffered a severe head injury after falling down the stairs in her care. he says he has no reason to doubt the outcome, but i'm quoting, speculation is causing pain for the families. he adds quote -- >>> the involuntary manslaughter trial of michael jackson's daughter is ready to go. this is after a key witness now found is reportedly ready to testify. we're talking about the pharmacist that has already testified that he shipped more t
>> i'm warren buffett's secretary. >> is it her? >> i'm warren buffett's secretary. >> is it him? >> i'm warren buffett's secretary. >> joe johns gets to the bottom of this much talked about and apparently overtaxed assistant. >>> and a self-proclaimed pot head about to get rich off of netflix? dude! the news starts now. >>> welcome back. if it's interesting and happening now, you are about to see it. beginning in california where a...
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warren buffett's secretary shouldn't pay a higher tax rate than warren buffett. there's no justification for it. it is wrong that in the united states of america, a teacher, a nurse or a construction worker who earns $50,000, should pay higher tax rate than somebody pullingn 50 million dollars. >> a very busy week for the media began with the president pitching his latest tax plan, citing what is now referred to as the buffett rule. so, let's start there. the media theme, judy, seems to be that the, you know, it's time to soak the rich and ask them to pay more money, but the rich do pay an awful lot of taxes. >> right, it's true. it was very interesting, the disconnect between the media and the people. the american people seem to like this speech, but boy, the media certainly didn't and some of the most stallwart liberal columnists deserted the president on this and said, you know, hey, wait a minute, this is not what we wanted, this isn't what we had signed up for. so, it was an odd week. >> jon: jim, the president, the line he keeps using about warren buffett's
warren buffett's secretary shouldn't pay a higher tax rate than warren buffett. there's no justification for it. it is wrong that in the united states of america, a teacher, a nurse or a construction worker who earns $50,000, should pay higher tax rate than somebody pullingn 50 million dollars. >> a very busy week for the media began with the president pitching his latest tax plan, citing what is now referred to as the buffett rule. so, let's start there. the media theme, judy, seems to...
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scott fitzgerald could mean warren buffett. that's in "the rewrite." >>> and later, is america safer now than it was before 9/11? richard engel will join me. important phone call i made. when i got my medicare card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare, call now to find out how an aarp... medicare supplement insurance plan, insured by unitedhealthcare insurance company, helps cover some of the medical expenses... not paid by medicare part b. that can save you from paying up to thousands of dollars... out of your own pocket. these are the only medicare supplement insurance plans... exclusively endorsed by aarp. when you call now, you'll get this free information kit... with all you need to enroll. put their trust in aarp medicare supplement insurance. plus you'll get this free guide to understanding medicare
scott fitzgerald could mean warren buffett. that's in "the rewrite." >>> and later, is america safer now than it was before 9/11? richard engel will join me. important phone call i made. when i got my medicare card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare,...
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scott fitzgerald could mean warren buffett. that's in "the rewrite." >>> and later, is america safer now than it was before 9/11? richard engel will join me. when we design any well, the groundwater's protected by multiple layers of steel and cement. most wells are over a mile and a half deep so there's a tremendous amount of protective rock between the fracking operation and the groundwater. natural gas is critical to our future. at exxonmobil we recognize the challenges and how important it is to do this right. an accident doesn't have to slow you down. with better car replacement available only with liberty mutual auto insurance, if your car's totaled, we give you the money for a car one model year newer. to learn more, visit us today. responsibility. what's your policy? >>> buffettism is spreading. warren buffett's idea that the rich should pay more in taxes is being picked up by the european super rich. that's in "the rewrite," next. and later, nbc news chief foreign correspondent richard engel be premiering his "day of de
scott fitzgerald could mean warren buffett. that's in "the rewrite." >>> and later, is america safer now than it was before 9/11? richard engel will join me. when we design any well, the groundwater's protected by multiple layers of steel and cement. most wells are over a mile and a half deep so there's a tremendous amount of protective rock between the fracking operation and the groundwater. natural gas is critical to our future. at exxonmobil we recognize the challenges and...
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warren buffett's secretary shouldn't pay a higher tax rate than warren buffett. >> all right, you say the president is wrong on this. tell me why. >> well, first of all, warren buffett's secretary doesn't pay a higher tax than warren buffett. warren buffett is the largest shareholder of berkshire hathaway, that's the majority of his wealth and berkshire hathaway pays 35% corporate income tax, that's his money, warren buffett's money. if his corporation didn't pay that tax, it would have been able to pay that money out to him in dividend. it's ingenuous to pretend that warren buffett isn't paying a lot of taxes and of course the taxes he's paying is in capital gains and that's because warren buffett chooses to work for no sally. if he paid a salary through berkshire hathaway he would have paid a tax rate. >> i'm paying well over 40% of my income in federal and state income taxes right now. how much more do they want to take? >> a lot more, have you not been hearing the president? he wants to take all of it. >> medieval serf as only got elevated to the lord. >> and you would think that
warren buffett's secretary shouldn't pay a higher tax rate than warren buffett. >> all right, you say the president is wrong on this. tell me why. >> well, first of all, warren buffett's secretary doesn't pay a higher tax than warren buffett. warren buffett is the largest shareholder of berkshire hathaway, that's the majority of his wealth and berkshire hathaway pays 35% corporate income tax, that's his money, warren buffett's money. if his corporation didn't pay that tax, it would...
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scott fitzgerald could mean warren buffett. that's in "the rewrite." >>> and later, is america safer now than it was before 9/11? richard engel will join me. >>> buffettism is spreading. from capital one, we get double miles on every purchase, so me and the boys earned a trip to dc twice as fast! oh hi! we get double miles every time we use our card. and since double miles add up fast... one more chariot please. ...we can bring the whole gang! i cannot tell a lie. he did it. right... it's hard to beat double miles! read my lips -- no new axes! [ male announcer ] get the venture card from capital one, and earn double miles on every purchase, every day. go to capitalone.com. what's in your wallet? so, you're a democrat right? what's in your wallet? have i got a surprise for you! yeah, it's new [ barks beneful healthy fiesta. gotta love the protein for muscles-- whoo-hoo! and omega-rich nutrition for that shiny coat. ever think healthy could taste so good? [ woman announcing ] new beneful healthy fiesta. helps defends against occa
scott fitzgerald could mean warren buffett. that's in "the rewrite." >>> and later, is america safer now than it was before 9/11? richard engel will join me. >>> buffettism is spreading. from capital one, we get double miles on every purchase, so me and the boys earned a trip to dc twice as fast! oh hi! we get double miles every time we use our card. and since double miles add up fast... one more chariot please. ...we can bring the whole gang! i cannot tell a lie. he...
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we will get to the warren buffett issue. but the wealthy democrats, have they been paying their fair share the last two, three, four years? >> i think people who are getting special tax preferences are not paying their fair share. they are not sharing the responsibility and trying to address the challenges that our country faces. what the president was doing is laying out a long-term deficit reduction plan and says over a period of time, we have to reform our tax code in a way that eliminates preferences that benefit certain special interests and have disproportionately benefited very wealthy people. >> what do you think would be a fair share percentage of earned income that the wealthy should pay? >> well, if you go back to the 1986 reagan tax reform proposal, they had the same rate applying to both income on capital gains and dividend and earned income. so the last time we had a big tax proposal under president reagan, that was the result, an equal tax rate applied to folks who earn most of their income through investments
we will get to the warren buffett issue. but the wealthy democrats, have they been paying their fair share the last two, three, four years? >> i think people who are getting special tax preferences are not paying their fair share. they are not sharing the responsibility and trying to address the challenges that our country faces. what the president was doing is laying out a long-term deficit reduction plan and says over a period of time, we have to reform our tax code in a way that...
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>> i don't really have a beef with warren buffett. if he thinks that he's paying unfairly low taxes, largely because he takes advantage of capital gains, and then puts his money into foundation so he he doesn't pay taxes on the capital gains and gets a he deduction on the money that he contributes, i think that would be entirely appropriate that he pay those taxes. >> paul: so, what is your -- what about you? you don't -- you say you wrote the piece, very interesting, that 80, 90% of your income this year would go for taxes of one kind or another. >> it's a slightly lower number. i get to it because not only the current years state and federal income tax burden and fica and the like, also at age 72, my life expectancy is not great and i would expect to pay estate taxes soon. and the sum of those, too, end up to be a high number. >> paul: here is one of the points that buffet makes of the capital gains taxes he acknowledges he pays a lot of on dividends, those are taxed at a lower rate, 15% now, than on income from wage earners taxed a
>> i don't really have a beef with warren buffett. if he thinks that he's paying unfairly low taxes, largely because he takes advantage of capital gains, and then puts his money into foundation so he he doesn't pay taxes on the capital gains and gets a he deduction on the money that he contributes, i think that would be entirely appropriate that he pay those taxes. >> paul: so, what is your -- what about you? you don't -- you say you wrote the piece, very interesting, that 80, 90%...
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buffett paying more in his higher income tax rate than warren buffett's secretary pays and republicans you could hear it, republicans in the house of representatives laughed when they heard him making the warren buffett comparison. it doesn't sound like they are ready to get in there and start changing what warren buffett has to do on his tax return. >> i don't think they take that seriously. let's look at the humor in this to some extent. people like buffett have a lot of money they'll never even look at let alone spend. they don't need it. when they talk about giving back money to the government rhetorically, it means nothing until practical sense. they're not giving back the money. a lot of these republican people would say, wait a minute, if you want to make a contribution to the u.s. treasury, go ahead, buddy. i'll make it 125 a year and i do have a couple kids in school so don't talk about me being rich. i think they are very skeptical. i don't think that's smart rhetoric using warren buffett. there's something phony about it. something phony about obama himself saying i'll pay h
buffett paying more in his higher income tax rate than warren buffett's secretary pays and republicans you could hear it, republicans in the house of representatives laughed when they heard him making the warren buffett comparison. it doesn't sound like they are ready to get in there and start changing what warren buffett has to do on his tax return. >> i don't think they take that seriously. let's look at the humor in this to some extent. people like buffett have a lot of money they'll...
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buffett paying more in his higher income tax rate than warren buffett's secretary pays and republicans you could hear it, republicans in the house of representatives laughed when they heard him making the warren buffett comparison. it doesn't sound like they are ready to get in there and start changing what warren buffett has to do on his tax return. >> i don't think they take that seriously. let's look at the humor in this to some extent. people like buffett have a lot of money they'll never even look at let alone spend. they don't need it. when they talk about giving back money to the government rhetorically, it means nothing until practical sense. they're not giving back the money. a lot of these republican people would say, wait a minute, if you want to make a contribution to the u.s. treasury, go ahead, buddy. i'll make it 125 a year and i do have a couple kids in school so don't talk about me being rich. i think they are very skeptical. i don't think that's smart rhetoric using warren buffett. there's something phony about it. something phony about obama himself saying i'll pay h
buffett paying more in his higher income tax rate than warren buffett's secretary pays and republicans you could hear it, republicans in the house of representatives laughed when they heard him making the warren buffett comparison. it doesn't sound like they are ready to get in there and start changing what warren buffett has to do on his tax return. >> i don't think they take that seriously. let's look at the humor in this to some extent. people like buffett have a lot of money they'll...
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warren buffett. good morning, i'm eric sean. >> jamie: it could have been eric sean but it is warren buffett. >> eric: not quite! >> jamie: welcome to america's news headquarters. it could affect a lot of people. the so-called buffett rumor and will include a new minimum tax rate for americans that earn more than $1 million a year. the president's plan will face stiff opposition, from republicans, on capitol hill, and, peter doocy has been gauging how folks feel about it there, live in washington. great to see you. how much will the buffett rule change the tax rate, if you are a millionaire? >> reporter: we don't know yet for sure but we have an idea what the president might think is fair, because back in '09 he did support a 5-4% millionaire surtax, as a possible way to pay for health care reform and tom's speech will not have specifics about the new rate or how much revenue the new buffett rule might raise. but, the president does want the rich and the middle class to pay uncle sam the same percent
warren buffett. good morning, i'm eric sean. >> jamie: it could have been eric sean but it is warren buffett. >> eric: not quite! >> jamie: welcome to america's news headquarters. it could affect a lot of people. the so-called buffett rumor and will include a new minimum tax rate for americans that earn more than $1 million a year. the president's plan will face stiff opposition, from republicans, on capitol hill, and, peter doocy has been gauging how folks feel about it...
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and speaking of warren buffett, your top value town should be no secret to warren buffett, omaha, nebraska. a four-bedroom house runnious about $275,000. wow. why did that top your list? >> that wouldn't by a shed in suburban -- omaha has fortune 500 companies. obviously berkshire hathaway, but also southern pacific, conagra. it has a ton of millionaires, thanks in large part to warren buffett's berkshire hathaway. it has a ridiculous unemployment rate of about 4.8%. and the great thing about omaha is the public/private partnerships to keep the downtown revitalized, to keep the kids well educated, to make it a fun, vibrant entertainment city. i went to omaha. we travelled to all these cities for our best cities report. and i actually picked omaha without high expectations, and i came away blown away by the fun you can have in nebraska. >> really fascinating. what a great list. bob, great to have you on the program. thank you so much for the information. it's really helpful. >> you're very welcome. >> bob frick joining us on value cities across the country. >>> up next on the "wall street j
and speaking of warren buffett, your top value town should be no secret to warren buffett, omaha, nebraska. a four-bedroom house runnious about $275,000. wow. why did that top your list? >> that wouldn't by a shed in suburban -- omaha has fortune 500 companies. obviously berkshire hathaway, but also southern pacific, conagra. it has a ton of millionaires, thanks in large part to warren buffett's berkshire hathaway. it has a ridiculous unemployment rate of about 4.8%. and the great thing...
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warren buffett's secretary shouldn't pay a higher tax rate than warren buffett. >> reporter: in the latest nbc news wall street journal poll the majority of americans support increasing taxes on the wealthy, but republicans immediately declared tax hikes are dead on arrival, accusing the president of driving a political wedge in the electorate. >> i don't believe class warfare is leadership. you know, we can get into this tax the rich, tax the rich and it's not going to get our economy going again. it's not going to put people back to work. >> this is not class warfare. it's math. >> reporter: analysts say the president is making a populist pitch. >> i think the president is trying to have an ideological fight. i think he wants this to be about democrats defending and working for the little guy, the average american and republicans defending the super rich. >> reporter: and mr. obama is on familiar territory, switching from governing to campaigning. >> this proposal, his whole style now is much more combative and confrontational. it reminds us that we are in a presidential campaign. >> rep
warren buffett's secretary shouldn't pay a higher tax rate than warren buffett. >> reporter: in the latest nbc news wall street journal poll the majority of americans support increasing taxes on the wealthy, but republicans immediately declared tax hikes are dead on arrival, accusing the president of driving a political wedge in the electorate. >> i don't believe class warfare is leadership. you know, we can get into this tax the rich, tax the rich and it's not going to get our...